09 октября 2020, USD/JPY
Technical observation
USD rose up to the resistance line 106.13 and is still trading with an increasing bullish bias below it. If you bought USD within the zone 105.22-105.16 after a rejection, at the line 106.13 is the ideal place to pick your profits. In case of a break above the line 106.13 with a big green candle, wait for a correction to it and a rejection to confirm possible bullish movements of price before you buy USD with your take profit at 107.40. In case price is contained below the line and there is a correction to the zone 105.22-105.16, re-buy USD within the same zone after a bounce within it with your take profit still at the line 106.13.
Trade recommendation
Remain long and pick your profits at 106.13.
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